Common use of Bi-Annual Reports Clause in Contracts

Bi-Annual Reports. In February of each year, Lessee shall deliver a questionnaire to fifty percent (50%) of the residents of the Project and in August of each year, Lessee shall deliver a questionnaire to the remaining fifty- percent (50%) of the residents of the Project. Lessee shall obtain Lessor's approval regarding the form of the questionnaire prior to distribution of the questionnaire to the residents. Based upon the responses to such questionnaires received by Lessee, on or before the tenth day of April and of October of each year, Lessee shall submit a report to Lessor in connection with the Project for the six (6) month period prior to the date of such report setting forth such information as may be reasonably requested by Lessor from time to time including without limitation the results of the questionnaires returned by residents and a rate comparison between Lessee's rates and the rates of AT&T and PacBell (or their respective successors) for two local locations, two long distance locations and two international locations chosen at random by Lessor. Lessor shall give written notice to Lessee of any information reasonably required by Lessor in connection with the above-described BI-annual reports which notice shall be given by Lessor to Lessee, if at all, on or before March 15 or September 15 of each year.

Bi-Annual Reports. In February of each year, Lessee shall deliver a questionnaire to fifty percent (50%) of the residents of the Project and in August of each year, Lessee shall deliver a questionnaire to the remaining fifty- fifty percent (50%) of the residents of the Project. Lessee shall obtain Lessor's approval regarding the form of the questionnaire prior to distribution of the questionnaire to the residents. Based upon the responses to such questionnaires received by Lessee, on or before the tenth day of April and of October of each year, Lessee shall submit a report to Lessor in connection with the Project for the six (6) month period prior to the date of such report setting forth such information as may be reasonably requested by Lessor from time to time including without limitation the results of the questionnaires returned by residents and a rate comparison between Lessee's rates and the rates of AT&T and PacBell (or their respective successors) for two local locations, two long distance locations and two international locations chosen at random by Lessor. Lessor shall give written notice to Lessee of any information reasonably required by Lessor in connection with the above-described BI-annual reports which notice shall be given by Lessor to Lessee, if at all, on or before March 15 or September 15 of each year.

Bi-Annual Reports. In February of each year, Lessee shall deliver a questionnaire to fifty percent (50%) of the residents of the Project and in August of each year, Lessee shall deliver a questionnaire to the remaining fifty- fifty percent (50%) of the residents of the Project. Lessee shall obtain Lessor's approval regarding the form of the questionnaire prior to distribution of the questionnaire to the residents. Based upon the responses to such questionnaires received by Lessee, on or before the tenth day of April and of October of each year, Lessee shall submit a report to Lessor in connection with the Project for the six (6) month period prior to the date of such report setting forth such information as may be reasonably requested by Lessor from time to time including without limitation the results of the questionnaires returned by residents and a rate comparison between Lessee's rates and the rates of AT&T and PacBell (or their respective successors) for two local locations, two long distance locations and two international locations chosen at random by Lessor. Lessor shall give written notice to Lessee of any information reasonably required by Lessor in connection with the above-described BI-annual reports which notice shall be given by Lessor to Lessee, if at all, on or before March 15 or September 15 of each year.. [GRAPHIC OMITTED][GRAPHIC OMITTED]